– by New Deal democrat As usual, the new month begins with important manufacturing and construction reports which give us the pulse of the goods-producing economy. The ISM manufacturing report has been a recognized leading indicator for the past 60+ years, although of diminished importance since the turn of the Millennium and China’s accession to […]

February construction spending: nominal vs. real makes all the difference  – by New Deal democrat Since the turn of the Millennium, a downturn in manufacturing has not been enough to tip the economy into recession. There must also be a decline in construction as well. This morning’s construction spending report for February painted a substantially […]